Investor confidence in Germany’s economy slumped to the lowest since 2011 as the country faces the growing prospect of a recession and risks mount that it’s shut off from Russian energy supplies. Snapping two months of gains, the ZEW institute’s gauge of expectations fell to -53.8 in July from -28 in the previous month, missing economists’ estimates. An index of current conditions also deteriorated. “The current major concerns about the energy supply in Germany, the ECB’s announced interest rate hike and further pandemic-related restrictions in China have led to a considerable deterioration in the economic outlook,” ZEW President Achim Wambach said Tuesday in a statement. Europe’s largest economy is among the region’s worst-hit by the war in Ukraine as record inflation cools demand and supply-chain disruptions starve factories of components. There’s a a […]